DOLLAR TREE STORES, INC. REPORTS NET SALES of $110.6 MILLION FOR THE THIRD QUARTER ENDING SEPTEMBER 30, 1996.NORFOLK, Va.--(BUSINESS WIRE)--Oct. 2, 1996--Dollar Tree Stores, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :DLTR DLTR Duke Law and Technology Review ) reported net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $110.6 million for the quarter ended September 30, 1996. This represents an increase of $43.2 million, or 64.0%, over net sales of $67.4 million during the same period last year. Year-to-date net sales increased 66.6%, from $179.0 million to $298.3 million for the nine months ended September 30, 1996. Comparable store net sales for the third quarter of 1996 increased 4.3% over the third quarter of 1995. Management feels that this increase is due to continued improvements in merchandise assortment assortment /as·sort·ment/ (ah-sort´ment) the random distribution of nonhomologous chromosomes to daughter cells in metaphase of the first meiotic division. as·sort·ment n. and presentation, and a generally favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. retail environment. The increase in total net sales is primarily attributable to new unit growth and the 136 Dollar Bill$ stores added on January 31, 1996. Net sales in the Dollar Bill$ stores were $25.7 million for the quarter. The Company has completed the installation of new fixtures and merchandise displays in the majority of Dollar Bill$ stores. Management reports that the integration of Dollar Bill$ is progressing as planned. Dollar Tree Stores, Inc. is a leading discount variety store chain offering a wide assortment of quality everyday general merchandise, in many traditional variety store categories, at the $1.00 price point. Dollar Tree Stores operates 712 stores in 26 states, including the 136 Dollar Bill$ stores acquired on January 31, 1996. CONTACT: Dollar Tree Stores, Inc., Norfolk Ray Compton or Eric Coble Eric Coble is a playwright and screenwriter. He is a member of the Playwrights' Unit of the Cleveland Play House. Eric Coble was born in Edinburgh, Scotland and bred on the Navajo and Ute reservations in New Mexico and Colorado. , 757/857-4600 |
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